Buying Stock with Commission At your discount brokerage firm,it costs $9.95 per stock trade.How much money do you need to buy 100 shares of Ralph Lauren (RL),which trades at $85.13?

Question

Quizplus · Accepted Answer

To calculate the total cost of buying 100 shares of RL, we need to multiply the share price by the number of shares and add the commission fee. The calculation would be:
100 shares x $85.13 per share = $8,513
Commission fee = $9.95
Total cost = $8,513 + $9.95 = $8,522.95
Therefore, the correct answer is choice C.

Buying Stock with Commission at Your Discount Brokerage Firm,it Costs